| Module Title: | Financial Management |
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| Language of Instruction: | English |
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| Teaching & Learning Strategies: |
The learning outcomes will be achieved through a mix of the following: Problem-solving, self-directed learning and the use of on-line learning resources. An emphasis will be placed on teamwork and problem-solving using scenario/case studies related to the tourism & event management sectors. Guest speakers.
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| Module Aim: |
The aim of this module is to equip students with relevant financial management tools in the tourism/event management context. . |
| Learning Outcomes |
| On successful completion of this module the learner should be able to: |
| LO1 |
Prepare and evaluate financial statements for various types of organisations |
| LO2 |
Appraise the various sources of finance, funding and sponsorship opportunities for a range of organisations |
| LO3 |
Prepare, modify and evaluate budgets and conduct pricing strategies |
| LO4 |
Evaluate environmental, social and governance issues facing organisations. |
| Pre-requisite learning |
Module Recommendations
This is prior learning (or a practical skill) that is recommended before enrolment in this module.
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| No recommendations listed |
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. |
| No incompatible modules listed |
Co-requisite Modules
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| No Co-requisite modules listed |
Requirements
This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. |
| No requirements listed |
Module Content & Assessment
| Indicative Content |
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Introduction to financial management
The nature of financial management, role of financial management in organisations, Financial versus Management Accounting, financial
institutions and the wider environment.
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Financial statements
Key principles of financial accounting, Income Statement, Statement of Financial Position, Notes to the accounts, regulatory framework of accounting.
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Interpretation of financial statements
Interpretation of financial statements,
financial ratio analysis, uses of financial statements, limitations of financial ratios, other types of ratios appropriate to the tourism and event management sectors, working capital management:
inventory, receivables, payables & cash.
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Sources of finance and funding
Sources of funds - both commercial and other sources, fundraising, completing a funding application and funding providers, short, medium and long term sources
of funding. E.g. bank loans, share issue, leasing, lottery funds. sponsorship, other specific bodies related to the tourism and event management sectors.
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Budgeting and pricing
Types of costs, break-even analysis, budget-setting process, preparing budgets - cash and other budgets, variance analysis, evaluation of
budgets, budgeting issues, pricing: economic theory, different types of pricing, pricing strategies.
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Environmental, social and governance issues
Ethical perspectives and strategies, sustainability issues, corporate social reporting, integrated reporting. Definition of governance,
principles of governance, governance codes, importance of governance, current issues.
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| Assessment Breakdown | % |
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| Project | 70.00% |
| Practical | 30.00% |
| Continuous Assessment |
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| Assessment Type |
Assessment Description |
Outcome addressed |
% of total |
Assessment Date |
| Case Studies |
Case study based on a tourism/event scenario. |
1,3 |
30.00 |
n/a |
| Project |
Group project involving 2/3 elements of the module in the areas of
funding, sponsorship, environmental, social and governance issues, working capital management
and budgeting |
2,3,4 |
70.00 |
n/a |
| No End of Module Formal Examination |
| Continuous Assessment |
|---|
| Assessment Type |
Assessment Description |
Outcome addressed |
% of total |
Assessment Date |
| Case Studies |
Case study based on a tourism/event scenario. |
1,3 |
30.00 |
n/a |
| Project |
Group project involving 2/3 elements of the module in the areas of funding, sponsorship, environmental, social and governance issues, working capital management and budgeting |
2,3,4 |
70.00 |
n/a |
| No End of Module Formal Examination |
SETU Carlow Campus reserves the right to alter the nature and timings of assessment
Module Workload
| Workload: Full Time |
| Workload Type |
Frequency |
Average Weekly Learner Workload |
| Lecture |
12 Weeks per Stage |
6.00 |
| Independent Learning |
15 Weeks per Stage |
11.87 |
| Total Hours |
250.00 |
| Workload: Part Time |
| Workload Type |
Frequency |
Average Weekly Learner Workload |
| Independent Learning |
15 Weeks per Stage |
5.93 |
| Lecture |
12 Weeks per Stage |
3.00 |
| Total Hours |
125.00 |
Module Delivered In
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